Commentary and analysis on markets, personal finance, and wealth building from a contrarian perspective. "I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting there and trying to dream it up all yourself. Nobody’s that smart."
— Charlie Munger

The central planners created extraordinary mismatches in
supply and demand and production inefficiencies.

It was just like those old stories from the Soviet Union–
too many factories making left boots without any factories making right boots.

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Eventually they saw the light, and nearly all of these
socialist countries started a long, slow conversion to embrace capitalism.

It really started in earnest about 15 years ago after
Vietnam signed a trade deal with the United States.

And since then the changes have been extraordinary.

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Capitalism always wins because people want the comfort and
lifestyle that become possible when talented people have the incentive to work
hard and innovate.

It doesn’t even really require too much to create these
incentives. The recipe is simple: property rights, financial reward, and
limited bureaucracy.

I am really stoked on Vietnam and because of a couple of catalysts which I mentioned here I expect the market in Vietnam to really take off. I also got in on the cheap at a discount which is also nice. Vietnam is one of my favorite economies and I am expecting big things over the next few years.